The largest U.S. bank by assets earned $5.45 billion after payments to preferred shareholders. That compares to a profit of $4.89 billion a year earlier. On a per share basis, the bank earned $1.45, compared with $1.28 a year earlier.

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The average estimate of financial analysts surveyed by FactSet was $1.39 per share, which typically exclude one-time items. Net revenue at the bank was $24.01 billion, compared with $23.22 billion in the same period a year earlier.